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Side-by-side financial comparison of Forge Global Holdings, Inc. (FRGE) and Laird Superfood, Inc. (LSF). Click either name above to swap in a different company.
Forge Global Holdings, Inc. is the larger business by last-quarter revenue ($21.3M vs $13.3M, roughly 1.6× Laird Superfood, Inc.). Laird Superfood, Inc. runs the higher net margin — -13.2% vs -85.7%, a 72.5% gap on every dollar of revenue. On growth, Laird Superfood, Inc. posted the faster year-over-year revenue change (15.0% vs 10.6%). Over the past eight quarters, Laird Superfood, Inc.'s revenue compounded faster (16.1% CAGR vs 5.6%).
Bharat Forge Limited is an Indian multinational company involved in forging, automotives, energy, construction and mining, railways, marine, aerospace and defence industries.
Laird Superfood, Inc. develops, manufactures and sells a portfolio of plant-based functional superfood products, including premium coffee creamers, hydration blends, nutritional supplements, and plant-powered snacks. It serves health-conscious consumers through direct-to-consumer e-commerce platforms and offline retail partners, mainly operating in the North American market with a focus on sustainably sourced clean ingredients.
FRGE vs LSF — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.3M | $13.3M |
| Net Profit | $-18.2M | $-1.8M |
| Gross Margin | 98.6% | 34.1% |
| Operating Margin | -96.7% | -13.5% |
| Net Margin | -85.7% | -13.2% |
| Revenue YoY | 10.6% | 15.0% |
| Net Profit YoY | 0.6% | -341.4% |
| EPS (diluted) | $-1.37 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $13.3M | ||
| Q3 25 | $21.3M | $12.9M | ||
| Q2 25 | $27.7M | $12.0M | ||
| Q1 25 | $25.3M | $11.7M | ||
| Q4 24 | $18.6M | $11.6M | ||
| Q3 24 | $19.2M | $11.8M | ||
| Q2 24 | $22.3M | $10.0M | ||
| Q1 24 | $19.2M | $9.9M |
| Q4 25 | — | $-1.8M | ||
| Q3 25 | $-18.2M | $-975.1K | ||
| Q2 25 | $-12.6M | $-362.2K | ||
| Q1 25 | $-16.2M | $-156.2K | ||
| Q4 24 | $-15.6M | $-398.4K | ||
| Q3 24 | $-18.3M | $-166.1K | ||
| Q2 24 | $-13.7M | $-239.1K | ||
| Q1 24 | $-18.6M | $-1.0M |
| Q4 25 | — | 34.1% | ||
| Q3 25 | 98.6% | 36.5% | ||
| Q2 25 | 99.4% | 39.9% | ||
| Q1 25 | 99.2% | 41.9% | ||
| Q4 24 | 98.3% | 38.6% | ||
| Q3 24 | 99.6% | 43.0% | ||
| Q2 24 | 98.9% | 41.8% | ||
| Q1 24 | 99.8% | 40.0% |
| Q4 25 | — | -13.5% | ||
| Q3 25 | -96.7% | -7.7% | ||
| Q2 25 | -46.3% | -3.3% | ||
| Q1 25 | -65.1% | -1.9% | ||
| Q4 24 | -100.6% | -4.1% | ||
| Q3 24 | -108.8% | -2.3% | ||
| Q2 24 | -79.2% | -3.4% | ||
| Q1 24 | -130.0% | -11.0% |
| Q4 25 | — | -13.2% | ||
| Q3 25 | -85.7% | -7.6% | ||
| Q2 25 | -45.4% | -3.0% | ||
| Q1 25 | -63.9% | -1.3% | ||
| Q4 24 | -84.2% | -3.4% | ||
| Q3 24 | -95.5% | -1.4% | ||
| Q2 24 | -61.6% | -2.4% | ||
| Q1 24 | -96.8% | -10.3% |
| Q4 25 | — | — | ||
| Q3 25 | $-1.37 | — | ||
| Q2 25 | $-1.01 | — | ||
| Q1 25 | $-1.29 | — | ||
| Q4 24 | $3.81 | — | ||
| Q3 24 | $-1.49 | — | ||
| Q2 24 | $-1.13 | — | ||
| Q1 24 | $-1.55 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $60.7M | $5.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $202.6M | $11.5M |
| Total Assets | $252.0M | $19.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $5.1M | ||
| Q3 25 | $60.7M | $5.1M | ||
| Q2 25 | $80.7M | $3.9M | ||
| Q1 25 | $92.0M | $7.0M | ||
| Q4 24 | $105.1M | $8.3M | ||
| Q3 24 | $114.5M | $7.9M | ||
| Q2 24 | $120.5M | $7.6M | ||
| Q1 24 | $129.6M | $7.1M |
| Q4 25 | — | $11.5M | ||
| Q3 25 | $202.6M | $12.8M | ||
| Q2 25 | $200.5M | $13.4M | ||
| Q1 25 | $213.5M | $13.3M | ||
| Q4 24 | $223.6M | $13.2M | ||
| Q3 24 | $234.5M | $13.1M | ||
| Q2 24 | $245.4M | $12.6M | ||
| Q1 24 | $252.2M | $12.7M |
| Q4 25 | — | $19.2M | ||
| Q3 25 | $252.0M | $18.9M | ||
| Q2 25 | $242.8M | $20.4M | ||
| Q1 25 | $249.5M | $21.5M | ||
| Q4 24 | $263.5M | $19.3M | ||
| Q3 24 | $276.6M | $18.8M | ||
| Q2 24 | $285.7M | $18.0M | ||
| Q1 24 | $298.7M | $17.6M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-11.4M | $68.4K |
| Free Cash FlowOCF − Capex | $-11.4M | — |
| FCF MarginFCF / Revenue | -53.6% | — |
| Capex IntensityCapex / Revenue | 0.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-73.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $68.4K | ||
| Q3 25 | $-11.4M | $1.2M | ||
| Q2 25 | $-7.8M | $-2.8M | ||
| Q1 25 | $-12.8M | $-1.3M | ||
| Q4 24 | $-40.5M | $339.2K | ||
| Q3 24 | $-5.8M | $305.8K | ||
| Q2 24 | $-14.4M | $642.7K | ||
| Q1 24 | $-12.4M | $-422.3K |
| Q4 25 | — | — | ||
| Q3 25 | $-11.4M | — | ||
| Q2 25 | $-7.9M | — | ||
| Q1 25 | $-12.9M | — | ||
| Q4 24 | $-41.3M | — | ||
| Q3 24 | $-6.0M | — | ||
| Q2 24 | $-14.7M | — | ||
| Q1 24 | $-12.8M | — |
| Q4 25 | — | — | ||
| Q3 25 | -53.6% | — | ||
| Q2 25 | -28.4% | — | ||
| Q1 25 | -50.9% | — | ||
| Q4 24 | -222.3% | — | ||
| Q3 24 | -31.0% | — | ||
| Q2 24 | -66.0% | — | ||
| Q1 24 | -66.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.2% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | 1.2% | — | ||
| Q1 24 | 2.1% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FRGE
| Marketplace | $12.2M | 57% |
| Custodial Administration Fees | $9.1M | 43% |
LSF
| Wholesale | $7.0M | 52% |
| Coffee Tea And Hot Chocolate Products | $4.4M | 33% |
| Hydration And Beverage Enhancing Supplements | $1.6M | 12% |
| Other | $352.6K | 3% |
